RIL makes Fourth Oil Discovery in block CB–ONN–2003/1

Reliance Industries Limited (RIL) announced it’s fourth oil discovery in exploratory block CB-ONN-2003/1 (CB 10 A&B) located onland in the Cambay Basin and awarded under NELP-V round of exploration bidding.

The well, CB10A-F1, was drilled to a total depth of 1605 m in Part A of the block with the objective of exploring the play fairway in the Miocene Basal Sand (MBS) of Babaguru formation. Two hydrocarbon bearing zones were identified from 1397-1407 m and 1378- 1382 m. Conventional production testing was carried out in one of the zones in the interval 1397-1400 m. The well flowed at a rate of 300 barrels of oil per day (bopd) through 6 mm bean with a flowing tubing head pressure of 250 psi. The Discovery is significant as this play fairway is expected to open more oil pool areas leading to better hydrocarbon potential within the block.

The block CB-ONN-2003/1 is located at a distance of about 130 kms from Ahmedabad in Gujarat in the Cambay basin. The block covers an area of 635 sq km in two parts viz., Part A & Part B. RIL, as Operator, holds 100% Participating Interest (PI) in the block.

While the entire block was covered with 2D seismic, about 80% of the block area has 3D seismic coverage. Of the fourteen (14) exploratory wells drilled in the block by RIL so far, 10 of them are located in Part-A and the remaining 4 nos. in the Part B of the block. RIL is continuing further exploratory drilling efforts in the block.

This Discovery, named ‘Dhirubhai–47’, the fourth oil discovery in the block so far, has been notified to Government of India and Director General, Directorate General of
Hydrocarbons. The potential commercial interest of the Discovery is being ascertained
through more data gathering and analysis.

This Discovery supplements RIL’s understanding of the petroleum system in the Cambay basin in general and this block in particular. Based on interpretation of the acquired 3D seismic campaign in the Contract Area, several more prospects with upside potential have been identified at different stratigraphic levels.

About Reliance Industries Limited

Reliance Industries Limited (RIL) is India’s largest private sector company on all major financial parameters with a turnover of Rs. 2,00,400 crore (US$ 44.6 billion), cash profit of Rs. 27,933 crore (US$ 6.2 billion), net profit of Rs. 16,236 crore (US$ 3.6 billion) and net worth of Rs. 1,37,171 crore (US$ 30.6 billion) as of March 31, 2010.

RIL is the first private sector company from India to feature in the Fortune Global 500 list of
‘World’s Largest Corporations’ and ranks 117th amongst the world’s Top 200 companies in terms of profits. RIL ranks 75th in the Financial Times FT Global 500 list of the world’s largest companies. RIL is rated as the 15th ‘Most Innovative Company’ in the World in a survey conducted by the US financial publication-Business Week in collaboration with the Boston Consulting Group.

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